The market gave up all it’s gains in afternoon with the Nifty trading below 8500 due to selling in Reliance Industries, HDFC and TCS. The 30-share BSE Sensex declined 135.18 points to 28092.21 and the 50-share NSE Nifty lost 38.80 points to 8487.55.
The market breadth was also weak. About 1092 shares have advanced, 1483 shares declined, and 230 shares are unchanged on the Bombay Stock Exchange.
IT sector was under pressure after industry body NASSCOM says that IT sector growth in FY15 has come in at 13 percent which was at the lower end of guidance of 13-15 percent, adding currency volatility led to drop in overall revenues.
TCS lost 2.7 percent and Wipro declined 1 percent. Index heavyweights Reliance Industries plunged 3.6 percent and HDFC decliend 2.6 percent. Sun Pharma, L&T, Axis Bank, ONGC, HUL and Maruti Suzuki were down 1-2.7 percent.
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